http://www.elitetrader.com/vb/showthread.php?s=&postid=2968698#post2968698 Hundreds of day trading methods that work auto designed. Of course, you will have to pay something.
Godgiven, If you notice, a 50ish moving average pretty much equates to the 0 line cross of the standard macd, thus all the misgivings of that approach will apply. It's not a bad initial setup for a filter however.
Agreed, especially when risk is with the market or close to it. If you don't know the risk or think it's the same as the market then yes, this wouldn't be a bad filter, but active trading most likely wouldn't be.
The market is either consolidating, trending or closed. Certain areas make price consolidate, study to recognize these areas. Others areas and/or actions make price trend, same as above, recognize them. Use your trending tools when its trending and your fading tools when consolidated. Adaptation is key and don't be greedy, trying to grab a chunk of the obvious action is your goal, not the whole thing, otherwise you shooting for impossible goals. Keep it simple. Are we trending ? If so, then don't fade. Are we consolidating ? If so, then you may fade. Are we no longer trending ? If so, you got a decision to make. Etc etc and so forth.... You may also decide not to trade trending states or not to trade consolidated states. Ultimately, the decision is yours as a flat position is also an intelligent position. FoN
28 pages of bullshet!?! Really, there is no such thing as a blue print, but there are common sense things that you can do, such as never over-leverage yourself, or enter into a position greater than you can afford to lose. THIS is a business if you treat it that way, treat how you would run a business and things should fall into place. 99.9% fail because they want over night winnings to occur. Unless you are on the inside and have data fully disclosed to you to your advantage, and liquidity strength, you must change your approach. A retail trader must be quick and realize there are more disadvatages to them than anything else. In the end, this game will become even more digitized, so your approach WILL need to change. Ask any body, all trading is is about capturing spreads as with anything else. Sad to say, there is barely any room for retailers anymore. Most retailers are just sacrificial lambs. You might have much more success putting your money in mutual funds. HONESTLY!
The goal is actually grabbing the chunk, not trying to grab it all day and ending empty handed or negative. Tryers try, grabbers grab, traders trade, averagers average, etc, etc, etc.